United Kingdom GDP Annual Growth Rate  1956-2017 | Data | Chart | Calendar

UK's gross domestic product expanded 2 percent year-on-year in the fourth quarter of 2016, the same as in the previous period and below the preliminary estimate of 2.2 percent. Fixed investment and household consumption were the main drivers of growth while business investment contracted for the fourth straight period. Looking at 2016 as a whole, growth slowed to 1.8 percent from 2.2 percent in 2015 and 3.1 percent in 2014. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2016, reaching an all time high of 9.80 percent in the first quarter of 1973 and a record low of -6.10 percent in the first quarter of 2009.

United Kingdom GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-23 09:30 AM Q3 2.2% 2% 2.3% 2.3%
2017-01-26 09:30 AM Q4 2.2% 2.2% 2.1% 2%
2017-02-22 09:30 AM Q4 2% 2% 2.2% 2.2%
2017-03-31 08:30 AM Q4 2.2% 2% 2%
2017-04-28 08:30 AM Q1 1.8%
2017-05-25 08:30 AM Q1 1.8%




UK Annual GDP Growth Revised Down To 2% In Q4


UK's gross domestic product expanded 2 percent year-on-year in the fourth quarter of 2016, the same as in the previous period and below the preliminary estimate of 2.2 percent. Fixed investment and household consumption were the main drivers of growth while business investment contracted for the fourth straight period.

On the expenditure side, gross fixed capital formation rebounded (0.9 percent after showing no growth in Q3) and both household expenditure (3.2 percent from 2.9 percent) and government spending (0.6 percent from 0.2 percent) rose at a faster pace; while business investment contracted for the fourth straight period (-0.9 percent from -2.3 percent in Q3).

Exports fell 0.4 percent, following a 1.4 percent gain in Q3; while imports grew 1.7 percent, after rising by 4.2 percent the previous period.

On the production side, the service industries expanded 3.1 percent (3.3 percent in Q3), as output rose for: Distribution, hotels and restaurants (5.9 percent from 5.1 percent in Q3); transport storage and communications (4.5 percent from 4.8 percent); business services and finance (2.6 percent from 3.1 percent); and government and other services (1.4 percent from 1.7 percent). Industrial production rose at a faster 1.9 percent (1.2 percent in Q3), as growth accelerated for: manufacturing (1.9 percent from 0.8 percent in Q3); electricity, gas, steam and air conditioning supply (4.5 percent from -0.8 percent); and water supply, sewerage, waste management and remediation activities (6.7 percent from 5.1 percent). By contrast, mining and quarrying, including oil and gas extraction, shrank 2.9 percent (2.1 percent in Q3) . Construction expansion slowed to 0.9 percent from 1.6 percent in Q3, and agriculture output continued to fall (-3.6 percent from -4.2 percent in Q3).

Looking at 2016 as a whole, growth slowed to 1.8 percent from 2.2 percent in 2015 and 3.1 percent in 2014. Fixed investment and government spending slowed while household consumption grew further.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/22/2017 10:40:16 AM



United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.00 2.00 9.80 -6.10 percent [+]
GDP 2858.00 2998.83 3063.01 72.33 USD Billion [+]
GDP Constant Prices 471584.00 468771.00 471584.00 107263.00 GBP Million [+]
Gross National Product 482897.00 475301.00 482897.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 77961.00 78402.00 80420.00 13405.00 GBP Million [+]
GDP per capita 41187.68 40620.02 41187.68 13868.61 USD [+]
GDP per capita PPP 38865.59 38329.92 38865.59 26629.01 USD [+]
GDP From Agriculture 3166.00 3154.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 26040.00 26025.00 26245.00 20035.00 GBP Million [+]
GDP From Manufacturing 41195.00 40921.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 7441.00 7991.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18929.00 18945.00 22274.00 18888.00 GBP Million [+]
GDP From Services 337081.00 334410.00 337081.00 171542.00 GBP Million [+]
GDP From Transport 17964.00 17784.00 18739.00 9402.00 GBP Million [+]



United Kingdom GDP Annual Growth Rate Notes

The United Kingdom is the sixth largest economy in the world and the second largest in Europe after Germany. The Services sector is the most important and accounts for 79 percent to total GDP. The biggest segments within Services are: government, education and health (19 percent of total GDP); real estate (12 percent); professional, scientific and technical activities and administrative and support services (12 percent); wholesale and retail trade (11 percent); and financial and insurance (8 percent). Industry accounts for 21 percent of the GDP and the largest segments within this sector are: manufacturing (10 percent of total GDP) and construction (6 percent). The Agriculture sector accounts for only 1 percent of GDP. This page provides the latest reported value for - United Kingdom GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.00 9.80 -6.10 1956 - 2016 percent Quarterly



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Italy 1.00 Dec/16
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Saudi Arabia 0.90 Sep/16
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